Bitcoin undervalued relative to gold signals potential rally: Analyst
Gold has become “overextended” after climbing to more than $5,247 per ounce, according to Jan3 CEO and Bitcoin advocate Samson Mow.
Bitcoin (BTC) is relatively undervalued compared to gold and the global money supply, which could signal a price reversal, according to Samson Mow, the CEO of Bitcoin technology company Jan3.
“Bitcoin is about 24%-66% below its trend relative to gold’s market cap or global money supply, while gold is overextended,” Mow said in a Saturday post on X.
Gold futures for April delivery closed Friday at $5,247.90; Tokenized gold PAX Gold USD was trading at the time of writing at $5,404.14.